TD Asset Management Inc Sells 26,592 Shares of NIKE, Inc. $NKE

TD Asset Management Inc decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 584,826 shares of the footwear maker’s stock after selling 26,592 shares during the quarter. TD Asset Management Inc’s holdings in NIKE were worth $37,259,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC raised its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new position in NIKE during the 1st quarter worth approximately $311,000. United Bank raised its holdings in NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after purchasing an additional 1,736 shares during the last quarter. NewEdge Advisors LLC raised its holdings in NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after purchasing an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is leaning into its football business ahead of the World Cup, and analysts said the company’s investor event reinforced CEO Elliott Hill’s plan to rebuild the brand sport by sport and region by region. That could support the long-term turnaround narrative. Nike bets big on Beautiful Game ahead of World Cup
• Positive Sentiment: Investor interest in NIKE remains elevated, with recent coverage highlighting that the stock is still drawing attention from market watchers as they evaluate the company’s outlook and earnings trajectory. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Positive Sentiment: NIKE continues to push a high-profile marketing campaign, “Rip The Script,” featuring major athletes and celebrities, which may help brand visibility and demand heading into a key sports calendar. NKE Stock Eyes Red Week Ahead Of FIFA World Cup: Nike’s Star-Studded Campaign Can’t Stop It From Falling
• Neutral Sentiment: Several articles focused on shifting investor narratives and watched-the-stock commentary, but no new price target or major fundamental update was announced, limiting the immediate catalyst. How The Narrative Around Nike (NKE) Is Evolving Without A New Price Target
• Neutral Sentiment: Commentary on a possible legal inquiry about insider duties did not provide clear evidence of wrongdoing, so it is more of a headline risk than a confirmed stock-moving event. Did NIKE, Inc. Insiders Breach their Fiduciary Duties to Shareholders?
• Negative Sentiment: Some coverage suggests NIKE still faces questions about regaining momentum in a changing consumer market, while the stock has also been pressured by broader concerns that the turnaround may take time. Can Nike Regain Momentum In A Changing Consumer Market?
• Negative Sentiment: Market chatter also highlights a “red week” narrative ahead of the FIFA World Cup, implying investors remain skeptical that NIKE’s ad campaign alone will quickly reverse the stock’s weakness. Curry Defection And World Cup Push Test Nike Turnaround Expectations

Insider Buying and Selling at NIKE

In other NIKE news, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director owned 41,022 shares in the company, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $43.05 on Friday. The company has a market cap of $63.75 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $44.85 and a 200-day moving average of $56.08.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, equities analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $52.00 price target on shares of NIKE in a report on Friday. Weiss Ratings upgraded shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, April 1st. Finally, Citigroup reduced their price objective on shares of NIKE from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.04.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).